Byju’s ups revenue to Rs 490 cr in FY 18, losses drop by half

Education technology player Think & Learn Pvt Ltd, which owns the brand Byju’s, has been on an upward trajectory in the last year and the momentum has been gaining ground in the New Year as well.
According to financial data accessed by business intelligence platform, Tofler, the company reported its revenues for the financial year 2017-18 as Rs 490 cr, a 97 % jump since the last financial year. The company further reported a net loss of Rs 29 cr during the same fiscal, a 53% decrease from the last financial year. The company’s total expenses for the fiscal were reported as Rs 519 crore.
Just last month, the company had raised $540 million in a round led by South African giant Naspers and Canada Plan Pension Investment Board. The transaction had made it scale up to $3.6 billion, catapulting it to the league of the fourth most valuable startup in India following the likes of Paytm, Ola and Oyo.
Read: 3 reasons why Byju's is a different type of Unicorn
Founded in 2011, Byju launched its learning app in 2015 to get more users in its fold. At present the company offers two separate apps - one that is for students from VI to XII and the other caters to those in Classes IV and V. The app today boasts of 20 million registered students and 1.26 million annual paid subscribers.
Clearly, the transition of offering more digitally viable teaching methods became a win win for the company with Byju crossing Rs 100 cr of monthly revenue in June last year.
The plans continue to be as aggressive with the ed-tech startup aiming to notch revenues of Rs 1400 crore in FY 19 and a roll out of content in key regional languages such as Gujarati, Marathi and Tamil on its app.
Majority of its business is via students in Class 4 - 12, while a small percentage is derived from competitive exam preparations. Next on its wishlist is coaching students from Class 1 - 3 and chartering into international territories for expansion.Shoot